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Exchange rate volatility-economic growth nexus in Uganda

机译:乌干达汇率波动与经济增长的关系

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摘要

The global financial crisis has disrupted trade and capital flows in most developing economies, resulting in an increased volatility of exchange rates. We develop an autoregressive distributed lag model to investigate the effect of exchange rate volatility on economic growth in Uganda. Using data spanning the period 1960-2011, we find that exchange rate volatility positively affects economic growth in Uganda in both the short run and the long run. However, in the short run, political instability negatively moderates the exchange rate volatility-economic growth nexus. These results are robust to alternative specifications of the economic growth model.
机译:全球金融危机扰乱了大多数发展中经济体的贸易和资本流动,导致汇率波动加剧。我们建立了自回归分布滞后模型,以研究汇率波动对乌干达经济增长的影响。使用跨度为1960-2011年的数据,我们发现汇率波动在短期和长期方面都会对乌干达的经济增长产生积极影响。但是,从短期来看,政治动荡不利地减轻了汇率波动与经济增长之间的联系。这些结果对于经济增长模型的替代规范具有鲁棒性。

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